Viva Industrial Trust UE BizHub EAST

Singapore-listed Viva Industrial Trust (SGX:T8B) announced on 12 February that it has successfully completed the refinancing of its outstanding loans maturing in FY2016/17 with new senior secured transferable loan facilities of up to SGD330 million.

The facilities have been granted by a panel of five banks including Standard Chartered Bank, BNP Paribas, RHB Bank Singapore, The Bank of East Asia Limited Singapore Branch and United Overseas Bank Limited.

The facilities consist of a 4-year term loan facility of SGD140 million, a 5-year term loan facility of SGD140 million and a 4-year revolving credit facility of SGD50 million. The loans are secured over Viva Industrial Trust’s properties UE BizHub EAST, Viva Business Park and 81 Tuas Bay Drive.

“With the successful completion of this refinancing, the next major refinancing requirement for Viva Industrial Trust will only arise in FY 2018”, said Wilson Ang, CEO for the manager of Viva Industrial REIT.

Viva Industrial Trust’s gearing ratio is currently at 37.8%.

Units of the stapled security last changed hands on the Singapore Exchange at SGD0.69.

By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.